LEHIGH VALLEY, Pa. (AP) — Air Products & Chemicals Inc., which sells specialty gases and equipment to industrial and commercial clients, said Monday that it will increase product prices and monthly service charges for merchant customers in North America to offset rising costs.
The increases go into effect on Oct. 1, or as contracts permit, Air Products said.
The Lehigh Valley, Pa.-based company said the moves include increases of up to 10 percent for liquid oxygen, liquid nitrogen, liquid and bulk hydrogen and liquid carbon dioxide and increases of up to 20 percent for liquid argon and bulk carbon monoxide.
Some price increases may be more or less than those ranges depending on specific situations, the company said.
Air Products said the increases will offset higher operating costs and input costs. The company added that it's working to offset the rising costs by improving efficiency and maintain reliable supply.
Air Products shares rose 26 cents to $85.75 in afternoon trading.